SEATTLE Kerry K. Killinger, the chairman, president, and chief executive officer of Washington Mutual Inc., received a nearly 60% raise in his cash bonus last year that boosted it to $2.46 million. His salary was the same as in 1999, $1 million.
In a filing with the Securities and Exchange Commission made public Tuesday, the thrift company said Mr. Killingers compensation was based on earnings of $1.9 billion, which is indicative of creation of shareholder value, capital strength, and in particular, the expansion of the franchise as a result of mergers and acquisitions.
Mr. Killingers 1999 bonus was $1.55 million, up 110%.
Craig E. Tall, Washington Mutuals vice chairman, earned $460,000 in salary and $695,500 in a bonus in 2000. His total take-home pay rose 29% compared with 1999.